Faith and spirituality are part of human nature and religion is one of its most important manifestations. Faith and religion are strongly interlinked with culture, values and ethics and they are a source of inspiration for most people in the world: more than eight-in-ten people identify with a religious group or a form of belief. There is a growing realization among development professionals that if real and positive change is to happen, the role of religion and of religious leaders needs to be factored in and therefore properly understood. The Sustainable Development Goals (SDGs) for example demand profound changes, which policies and action alone cannot bring about.
The donor community, and increasingly governments and multilateral agencies are becoming increasingly aware that, if you want to transform peoples’ attitudes and behaviour, it is important to speak to the values and ethics that guide them.

This collection aims at furthering increased awareness and understanding of the (positive) role faith and religious traditions and their respective communities, organizations and actors play in working towards a sustainable development, envisioned by the SDGs.

It's focus will be on main issues put forward by the latter, such as climate change, human rights, gender, health care, education, youth employment, peace, food and water.

It also supports the mission of Partnership for Religions and Development (PaRD), initiated by the Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) and key governmental and multilateral development partners, of which Globethics.net is a member.

Recent Submissions

  • Vile Methods: Bridging Divides and Expanding Churches' Understanding of Creativity

    Kaufmann, Tyler Jack (Digital Commons @ George Fox University, 2021-02-01)
    Over the last 25 years, technology has made learning, sharing information, and connecting easier than ever before. Humans, especially in North America, have access to unprecedented amounts of information, ways to interact, and tools for relationship building. Yet, in the United States, humans find themselves in one of the most polarized times of the last 50 years. At the same time, the US church has been in major membership decline and its societal influence has decreased. Great numbers of the poorest US Americans are leaving the church and with that exodus gaps between social classes are widening as less spaces exist for people from different classes to build relationships with one another. This thesis contends that churches possess the ability and responsibility to bridge social divides in order to bring healing to communities through shifting theological perspective and establishing enterprises that activate people’s creative abilities. Section one states the problem of division amongst socio-economic classes and surveys the challenges that poverty generates in the fabric of society. Section two explores various tools and enterprises currently being used by faith communities to address the problem of poverty and class gaps. Section three provides a theological foundation for promoting churches’ creativity, surveys creativity research, and examines ways to activate creative potential. It also highlights the history of the Methodist movement to find inspiration and direction for the future of the church. Section four details the dissertation artifact: a podcast, online community and website for equipping people to collaborate with their communities in creative ways. Section five gives specifications for the artifact. Finally, section six analyzes the project’s development, implementation, and future possibilities.
  • Potentials of Cooperation with African Initiated Churches for Sustainable Development

    Öhlmann, Philipp; Gräb, Wilhelm; Frost, Marie-Luise (Humboldt-Universität zu Berlin, 2021-05-10)
    This report summarises the results of the research project “Potentials of Cooperation with African Initiated Churches for Sustainable Development”, which was conducted by the Research Programme on Religious Communities and Sustainable Development at Humboldt-Universität zu Berlin from 2017 to 2019 under the leadership of Wilhelm Gräb and Philipp Öhlmann. The project followed a potentials-oriented approach, highlighting the contributions of African Initiated Churches to the promotion of sustainable development. It also outlined new possibilities for German development cooperation.
  • 100 proven ways to transform your community.

    Internet Archive; Watkis, Anthony (Eastbourne : Kingsway Communications, 2003-01-01)
    272 p. ; 20 cm
  • Investigar, publicar y divulgar. Ciencia en infografías

    Universidad Eafit; Martinez-Guerrero, Christian Alexander; Gutiérrez Ramírez, Mariana; Suárez-Giraldo, Cristian; Caicedo Alarcón, Oscar; Universidad Eafit. Vicerrectoría de Descubrimiento y Creación. Gestión de Publicación y Divulgación Científica (Medellín : Universidad Eafit, 2021-04-12)
    Las infografías aquí reunidas fueron elaboradas después de hacer un monitoreo permanente durante el 2020 de los artículos publicados por los investigadores de la Universidad EAFIT. Este esfuerzo de divulgación se enmarca en la definición del Sistema de Descubrimiento y Creación (2020) de la Universidad EAFIT que busca, entre otras cosas, la movilización de los proyectos de investigación, investigación-creación y creación, conectados con el entorno local, nacional e internacional. Este libro es una de las acciones que ponen en movilización el subsistema de "Difusión y divulgación del conocimiento”, que pretende generar una cultura de la comunicación de la ciencia a públicos diversos, con contenidos pertinentes y rigurosos, inspirados en la excelencia como principal fundamento de la actividad científica.
  • Finance alternative : quels sont les avantages?

    Pau; Bouoiyour, Jamal; Khalil, Rosette (2021-04-27)
    L’Investissement Socialement Responsable (ISR) qui est qualifié d’investissement « éthique », « vert » ou « durable » est établi sur un principe similaire qui repose sur le principe des investissements ESG. Ainsi, la finance islamique, à travers le filtrage sectoriel qu’elle impose, représente une option d’investissement socialement responsable intéressante. On considère qu’à travers le développement durable, les objectifs de l’ISR et de la finance islamique sont convergents. Créé en Janvier 2009, par « Satoshi Nakamoto », de nombreuses devises virtuelles comme Bitcoin sont fortement intéressés à faire partie du portefeuille de services du système financier islamique.La thèse est divisée en quatre chapitres. Dans le premier chapitre, nous illustrons l’histoire et l’expansion de la finance islamique dans le monde entier. Nous montrons la croissance de la finance islamique dans les pays musulmans et les pays non musulmans également. Nous mentionnent également les principales transactions appliquées par les institutions financières islamiques et qui sont fondées sur la loi islamique « Shariah ». Nous mentionnons en conséquence de manière simplifiée les articles interdits dans l’Islam.Dans le deuxième chapitre, nous étudions l’efficacité de 41 banques islamiques pures opérant dans 5 pays du CCG pour la période 2004 et 2017. Nous évaluons la rentabilité de nos banques en tenant compte de trois intrants et de trois extrants. Nous comptons sur deux orientations différenciées en termes de contraintes : orientation des entrées et orientation des sorties. Pour ce faire, nous nous appuyons sur la méthode du coût stochastique frontière et de l’enveloppe des données. De nos résultats, nous voyons que les banques islamiques opérant dans la région du CCG ne fonctionnent pas sur la frontière des coûts efficaces peut-être en raison de l’inefficacité de la gestion et de l’utilisation abusive des facteurs de production. L’utilisation d’une approche axée sur la production ne modifie pas de façon significative les résultats obtenus. Dans ce contexte, les résultats ont montré que les scores d’efficacité ne pouvaient pas être expliqués uniquement par des ratios financiers, car ils sont liés à des facteurs externes correspondant à l’inefficacité X et à l’environnement économique.Dans le troisième chapitre, nous étudions les caractéristiques de Bitcoin comme monnaie virtuelle par rapport à quatre indices islamiques. Nous nous appuyons sur les modèles de la famille Garch pour détecter le niveau et la persistance de la volatilité pendant la période de 2010 à 2018. Nous comptons également sur le modèle de commutation de Markov pour étudier la durée de persistance des indices pendant le régime à faible risque et le régime à haut risque. De nos résultats, nous remarquons que les indices islamiques et Bitcoin ne sont pas immunisés contre les chocs financiers. Cependant, la persistance de la volatilité du Bitcoin est plus importante que le cas du marché boursier islamique. En outre, nous confirmons le rôle de Bitcoin comme couverture pendant les moments normaux et comme refuge pendant les moments d’anxiété.Dans le quatrième chapitre, nous étudions l’interaction entre trois indices islamiques et leurs homologues durables. Nous appliquons le modèle de décalage réparti autorégressif pour voir l’existence de la relation à court et à long terme entre indices. Dans la deuxième étape, nous utilisons la causalité de fréquence de domaine pour étudier la causalité dynamique et sa directe entre chaque indice islamique et sa contrepartie. Nos résultats montrent l’existence d’un équilibre à long terme et la position des marchés boursiers comme compléments principalement à court terme et substituts à long terme. Les résultats de causalité « fréquence par fréquence » montrent l’existence d’une relation de causalité à court terme entre les trois marchés boursiers viables et leurs homologues islamiques.
  • Alternative finance : what are the advantages?

    Transitions Energétiques et Environnementales (TREE) ; Université de Pau et des Pays de l'Adour (UPPA)-Centre National de la Recherche Scientifique (CNRS); Université de Pau et des Pays de l'Adour; Jamal Bouoiyour; Khalil, Rosette (HAL CCSD, 2021-04-27)
    Socially Responsible Investing (SRI) which is described as “ethical”, “green” or “sustainable” investing is established on a similar principal which is based on the principle of ESG investments. Thus, Islamic finance, through the sector filtering it imposes, represents an interesting socially responsible investment option. It is considered that through sustainable development, the objectives of SRI and Islamic finance are converged. Created in January 2009, by “Satoshi Nakamoto”,many virtual currencies like Bitcoin are strongly interested to be a part of the services portfolio of the Islamic Financial system.The thesis is divided into four chapters. In the first chapter, we illustrate the history and the expansion of Islamic finance worldwide. We show the growth in terms of Islamic finance in Muslim countries and non-Muslim countries as well. Wealso mention the main transactions applied by Islamic financial institutions and which are based on the Islamic law “Shariah”. We mention accordingly in a simplified manner the prohibited items in Islam.In the second chapter, we study the efficiency of 41 pure Islamic banks operating in in 5 GCC countries for the period 2004 and 2017. We estimate the cost efficiency of our banks by considering three inputs and three outputs. We rely on twoorientations which differentiate in terms of constraints: input orientation and output orientation. In order to do this, we rely on the cost stochastic frontier and data envelopment method. From our results, we see that the Islamic banks operating in the GCC region do not operate on the efficient cost frontier maybe due to managerial inefficiency and misuse of production factors. The use of the output-oriented does not change the obtained results significantly. In this context, the results showed that the efficiency scores could not be explained solely by financial ratios, as they are related to external factors corresponding to the X-inefficiency and economic environment.In the third chapter, we study the characteristics of Bitcoin as a virtual currency versus four Islamic indices. We rely on Garch family models to detect the level and the persistence of volatility during the period 2010 until 2018. We also rely onthe Markov switching model to study the duration of persistence of the indices during low risk regime and high risk regime. From our results, we notice that Islamic indices and Bitcoin are not immune to financial shocks. However, thevolatility persistence of Bitcoin is more important than the case of Islamic stock market. In addition, we confirm the role of Bitcoin as a hedge during normal moments and as a safe haven during moment of anxiety.In the fourth chapter, we study the interaction between three Islamic indices versus their sustainable counterparts. We apply the autoregressive distributed lag model to see the existence of the short-run and long-run relationship between theindices. In the second step, we use the Domain frequency causality to study the dynamic causality and its directness between each Islamic index and its counterpart. Our results show the existence of a long-run equilibrium and the position of the stock markets as complements mainly on the short term and substitutes on the long-term. The “frequency-byfrequency” causality outputs show the existence of a causal relationship on the Short-term between the three sustainable stock market and their Islamic counterparts.
  • Walk the talk : Africa-Asia focus : report of the international online conferences January-March 2021

    Geneva Agape Foundation; Kong, Haicun (Globethics.netGeneva Agape Foundation, 2021)
    Covid-19 Pandemic creates worldwide turbulences in health, economy, politics, education, religious answers and much more. Allocation of resources: capital, natural, human and religious resources with the best impact on development becomes even more important. Churches, church-related partners and inves- tors have great potential to contribute to faithdriven and impactful investing. The focus of the two online conferences 2021 was on ‘Walk the Talk’ by sharing experiences of successful and challenging investment projects, strengthening impactful cooperation between faith partners and investors, and presenting tools to make projects investable in Africa and Asia. This report summarizes rich presentations and discussions on subjects such as health, agro food, renewable energy, finance fintech (financial technology), covered by experts around the world.
  • Policy Monitor, Issue 8 No. 4, April-June 2017 Islamic Finance: New Opportunities for Driving Development Agenda

    The Kenya Institute for Public Policy Research and Analysis (KIPPRA), 2020-11-25
    This edition also highlights the prospects of lowering transaction costs through trade facilitation to promote intra-regional trade. Despite regional integration initiatives in the continent, intra-African trade remains relatively low given the high trade costs, especially the cost of compliance associated with collection and processing of information and charges for trade-related services, and indirect costs resulting from administrative processes and inventory charges. It is the government’s objective to enhance growth in trade by deepening economic integration especially at regional level.
  • What role does the church have in promoting the SDGs?

    McNabb, David (2017-06-01)
    What role does the church have in promoting the SDGs? This presentation will use the case study of The Community of St Luke, a local church attended by the presenters and explore the way it promotes SD Goal 16: Promote peaceful and inclusive societies for sustainable development, provide access to justice for all and build effective, accountable and inclusive institutions at all levels. The church has often been accused of being part of the problem but we will explore the ways in which it promotes peace, inclusivity, and social justice. It does this through being an inclusive community; running programmes on progressive theology, interfaith development and restorative justice; and taking action on issues such as sexuality and gender injustice. We will also explore an emerging commitment to Te Tiriti o Waitangi.
  • Response to International and Local Bids

    Mir, Aized H.; Abidi, Sohail; Durrani, Amer Z. (World Bank, Washington, DC, 2014-08-20)
    Several stakeholders in the Pakistan
 construction industry have expressed concern about the
 apparent poor response to recent international and local
 bids. The objectives of the study were to evaluate the level
 of response to recent international and local tenders and to
 assess the level of interest of international firms to bid
 on projects in Pakistan. The response to recent invitations
 to bid on projects across Pakistan has been poor from both
 international and local firms. Although, tendering was open
 to both international and local contractors, most firms that
 submitted bids have been local. Generally, the same set of
 four or so contractors repeatedly bid for projects across
 the country, and the lowest bidder always won the contract.
 There was apparently minimum weight-age given to an
 evaluation of the technical capability of the lowest bidder.
 The lack of response in bids and the high prices being
 quoted can be considered as indicators of supply and demand
 gaps. There seem to be abundant opportunities for work, and
 limitations in the contractor ' s capacity to do work
 are being tested by the current market situation, where
 there is ample work and the contractors are in a position to
 choose the works which interest them. In such circumstances,
 the short-term implications are clear-contractors will
 demand high premiums for less attractive work and response
 to bids for work in difficult remote areas with higher risks
 shall remain especially poor. In a market driven economy, it
 will take some time until the supply demand situation
 achieves stability, while for the short term, the clients
 will be faced with accepting higher bid rates in order to
 deliver upon their development goals and also accept the
 risk that the limited pool of contractors may not be able to deliver.
  • Local Case Studies

    Abidi, Sohail; Mir, Aized H.; Durrani, Amer Z. (World Bank, Washington, DC, 2014-08-20)
    The local case studies for projects in
 different sectors were prepared to document the bottlenecks
 which occurred during the various processes involved in the
 life cycle of infrastructure projects. Identifying such
 processes allows a better understanding of the capacity
 constraints in planning, designing, programming,
 procurement, contract administration, financing and
 budgeting, execution, and other stages in a project cycle.
 The case studies clearly demonstrate the presence of deep
 rooted systematic problems related to: (1) inadequate client
 capacity to plan, procure, program, administer, and manage
 projects; (2) imbalanced conditions of contracts; (3) flawed
 procurement procedures (pre-qualification, bid evaluation,
 negotiations, and re-negotiations with the lowest bidder)
 causing significant delays; (4) mismatched project funding
 needs and actual availability of funds; (5) commencement of
 projects without ensuring that required funds are in place;
 (6) delay in making running payments; (7) insufficient time
 given for detailed design and variations in contract due to
 inadequacies in design; (8) limited capacity of local
 contractors; and (9) poor international bid response in mega
 projects related to credibility issues.
  • Business Environment and Cost of Doing Business

    Hussain, Abid Abrar; Mir, Aized H.; Durrani, Amer Z.; Zaidi, Hasan A. (World Bank, Washington, DC, 2014-08-21)
    The objective of the Pakistan
 Infrastructure Implementation Capacity Assessment (PIICA)
 study was to identify and ascertain the extent to which
 certain complex and dysfunctional business processes in fact
 contribute to the overall delays caused in completion of
 infrastructure projects. The primary focus was to understand
 and document the business processes relating to the life
 cycle of infrastructure projects, especially processes that
 involve an interface with external agencies. The study was
 further extended to assess the resultant impact of the
 delays caused on overall capacity, efficiency, and costs of
 the project. The study identifies areas that contain
 business processes and which relative to other processes in
 the life cycle of a project are disproportionate, or a cause
 of significant time delays in completion of such projects.
 Such disproportionate business processes that are
 unpredictable and vary greatly from the planned time or
 inputs are areas that can be the focus for selective and
 further analysis, process re-engineering and
 recommendations. Such areas can be targeted to improve the
 overall business and regulatory environment applicable to
 players and stakeholders relevant to infrastructure
 projects. The study identifies that corruption in the
 overall environment exists which over time has become
 embedded and is accepted as necessary, if a project is to be
 successfully won and then executed with minimum hindrances
 from the government. These practices cannot be called
 business processes but are an integral and unavoidable
 reality of the current business environment. The PIICA study
 highlights: (i) the business processes and relative time and
 effort required at different steps during a project life
 cycle, under normal or prevailing business environment in
 the country; (ii) the business processes and relative time
 and effort required at different steps during a project life
 cycle, under normal or prevailing business environment in
 the country; and (iii) the defined and undefined procedures
 that exist, many of which are not stated in contract
 documents, neither in project plans nor subjected to risk
 analysis and risk mitigation at the outset. These appear to
 render the best of project time lines and budgeted plans as
 mere estimates.
  • A Review of Allocations and Expenditures in the Public Sector

    Majeed, Abdul; Mir, Aized H.; Durrani, Amer Z. (World Bank, Washington, DC, 2014-08-21)
    The purpose of the study is to obtain an
 understanding of Pakistan's economy, its budgetary
 process and structure, and allocations and expenditures in
 the previous Public Sector Development Programs (PSDP). It
 aims to provide an insight into the planning process;
 project cycles allocation and expenditure patterns which
 would be useful in the overall context of the study on the
 Pakistan Infrastructure Implementation Capacity Assessment
 (PIICA), for the planned Medium Term Development Framework
 (MTDF) 2005-10.
  • Guidelines and Methodologies for Conflict Management

    World Bank (Washington, DC, 2014-08-25)
    These Guidelines seek to enable wider
 and more consistent engagement in the realm of conflict
 management within the sector. The objective is to achieve,
 as far as possible, negotiated settlements in the resolution
 of disputes. The primary aim is to minimize the adversarial
 characteristic of conflict in this sector through proactive
 communication and open information sharing. These Guidelines
 are the first step at an operational level in managing
 conflict consistently and according to the principles of
 sustainability. They may, in time, need to be expanded and
 to evolve as legislation develops and changes and as the
 industry undergoes the transformation dictated by the
 sustainability journey.
  • Does TRIPS (agreement on trade‐related aspects of intellectual property rights) prevent COVID‐19 vaccines as a global public good?

    Haugen, Hans Morten (John Wiley & Sons Ltd., 2021-03-24)
    The article analyses the global public goods approach to COVID‐19 technologies, embedded in 2020 affirmations by the World Health Assembly (WHA), the UN Human Rights Council and G20 on broad immunization against COVID‐19. After identifying the access to COVID‐19 tools (ACT) Accelerator members, the UN efforts are identified, focusing primarily on the UN human rights bodies, acknowledging how these and the WHA have mutually reinforced each others' efforts. The article finds that the global public goods terminology appeared in UN resolutions in 2020, while wording that included vaccines—on an equal footing as medicines—appeared in 2016, and recognition of generic medicines appeared in 2019. The so‐ called Trilateral Cooperation on IP and public health between two UN specialized agencies and the World Trade Organization (WTO) has increased awareness of the flexibilities within WTO's TRIPS Agreement. These flexibilities are explained. With notable exceptions, like India, these flexibilities are not widely applied in domestic legislation. A different emphasis characterizes the millennium development goals era as compared to the sustainable development goals era, and this shift is explained by applyin relevant theories. Among pro‐TRIPS developed countries there is an acknowledgment of obstacles created by the IP system, but their overall position has not change.
  • The Poverty Law Education of Charles Reich

    Kornbluh, Felicia; Tani, Karen M. (Digital Commons @ Touro Law Center, 2021-01-01)
  • The Past in the Present

    Poulios, Ioannis (Ubiquity Press, 2015-12-31)
    The Past in the Present deals with the complexities in the operation and management of living heritage sites. It presents a new interpretation of such sites based on the concept of continuity, and its evolution to the present. It is demonstrated that the current theoretical framework and practice of conservation, as best epitomised in a values-based approach and the World Heritage concept, is based on discontinuity created between the monuments (considered to belong to the past) and the people of the present, thus seemingly unable to embrace living heritage sites. From this position, the study suggests an innovative approach that views communities and sites as an inseparable entity: a Living Heritage Approach. This approach brings a new insight into key concepts such as authenticity and sustainable development. Through the use of the monastic site of Meteora, Greece, as a case study, the discussion generated aims to shift the focus of conservation from ‘preservation’ towards a continual process of ‘creation’ in an ongoing present, attempting to change the way heritage is perceived, protected and, more importantly, further created.
 
 “The Past in the Present is an important and much-needed contribution to the debate about living heritage – and it is particularly significant in the context of the heritage of the past in the modern world. Anyone concerned with how the past is, or should be, integrated within modern lives and identities will need to read this book.” – Leslie Brubaker, Director, Centre for Byzantine, Ottoman and Modern Greek Studies, University of Birmingham, UK.
 
 “This interesting and thoroughly researched book by Ioannis Poulios is a useful tool in promoting the Living Heritage Approach, and provides a sound theoretical basis for future work. Living Heritage Approach is a paradigm shift that suggests a new way of addressing conservation for our heritage. ICCROM is proud to have introduced this approach, also with the contribution of Ioannis.” – Gamini Wijesuriya, Project Manager, ICCROM.
 (DOI: http://dx.doi.org/10.5334/bak)
  • Studierendenmigration und Entwicklung

    Krannich, Sascha; Hunger, Uwe (Springer NatureSpringer Singapore, 2020-12-14)
    Wie tragen internationale Studierende und Alumni zur Entwicklung in ihren Herkunftsländern bei? Ist der Entwicklungseffekt am größten, wenn Studierende direkt nach Beendigung ihres Studiums wieder in ihre Herkunftsländer zurückkehren und sich dort vor Ort engagieren oder können sie die Entwicklung ihres Herkunftslandes auch unterstützen, wenn sie nach dem Studium im Ausland bleiben und sich mit ihrem Wissen und Kapital über transnationale Netzwerke in den Entwicklungsprozess ihres Herkunftslandes einbringen? Konkret wird diese Frage in dieser Open Access Publikation am Beispiel der Stipendien- und Alumniarbeit des Katholischen Akademischen Ausländer-Dienstes (KAAD) in fünf Ländern unterschiedlicher Entwicklungsregionen untersucht: Georgien, Ghana, Indonesien, Kolumbien und Palästina. ; Wie tragen internationale Studierende und Alumni zur Entwicklung in ihren Herkunftsländern bei? Ist der Entwicklungseffekt am größten, wenn Studierende direkt nach Beendigung ihres Studiums wieder in ihre Herkunftsländer zurückkehren und sich dort vor Ort engagieren oder können sie die Entwicklung ihres Herkunftslandes auch unterstützen, wenn sie nach dem Studium im Ausland bleiben und sich mit ihrem Wissen und Kapital über transnationale Netzwerke in den Entwicklungsprozess ihres Herkunftslandes einbringen? Konkret wird diese Frage in dieser Open Access Publikation am Beispiel der Stipendien- und Alumniarbeit des Katholischen Akademischen Ausländer-Dienstes (KAAD) in fünf Ländern unterschiedlicher Entwicklungsregionen untersucht: Georgien, Ghana, Indonesien, Kolumbien und Palästina.
  • Sukuk-Waqf: The Islamic Solution for Public Finance Deficits

    Abdessamad Raghibi; Lahsen Oubdi (Università degli Studi di Torino, 2018-04-01)
    The majority of Muslim countries face increasing pressure on their budget, which pushes to more public spending. Eventually, the main victim of this situation will be the welfare of Muslim communities. Despite Islam does not tolerate negligence regarding the importance of State as major player in preserving the welfare of Muslim communities, it offers a third option to support public effort through the institution of Waqf. Indeed, this institution has played a crucial role all along Muslim civilization and it is invited to more innovation to answer to today’s challenges. Sukuk-Waqf can be seen as the perfect sustainable financing instrument offered by Islam to help sustain public spending by the people and for the people. It presents. This paper will try to examine the concept of Waqf, cash Waqf and Sukuk Waqf is Islam and their evolution during Muslim civilization. Finally, it will go through modern attempts to implement this model that can answer the need for financing to support public effort to preserve the welfare of Muslim citizens.
  • Social Finance And Unconventional Financing Alternatives: An Overview

    Paolo Pietro Biancone; Maha Radwan (Università degli Studi di Torino, 2018-07-01)
    The economic crisis, the increment of poverty and unemployment, the emergence of several social problems, and the limitations of the public spending have all called for exploring innovative and alternative ways of social financing. Such enterprises face many challenges in accessing finance due to that high risk regarding generating profit, problems of governance model, and lacks of performance measurement valuations especially when it comes to measuring social value. There is a need for finance impact driven businesses and this requires the reinforcement of current funding alternatives and usage of innovative financing alternatives. Islamic finance with its unconventional wide range instruments represents a possible potentiality for offering innovative financing alternative. The paper is exploratory and should give insights to the emerging interest in both social impact finance and Islamic finance with its innovative tools that focus on risk sharing and social impact. This paper argues that unconventional financing alternatives could positively impact international economies and be a viable potential alternative for financing with its diversified instruments for social enterprises development. The paper explores the different unconventional instruments of financing as well as the criteria of accessing them. The paper provides insights for researchers, decision makers, and practitioners of how could be unconventional financing used as valid financing tool for social impact businesses.

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